IRI Survey: Younger Millennials Outspending Older Cohorts in Food/Bev

Consumer confidence has been up and down in 2019. Despite a strong start to the year, confidence dimmed at the end of Q1 2019. It currently is surging again due to a strong labor market, but trade issues could easily cloud this outlook. This mixed bag is impacting consumer spending on food and beverages, according to the latest IRI Consumer Connect survey findings that recently were released. Food inflation softened in Q1 2019 to 1.7 percent compared to 2.2 percent in 2018, but not everyone is freely opening their wallets. Younger Millennials (born 1990+) are outspending older generations in food dollars, while older cohorts are more likely to be using a number of money-saving tactics to keep food bills manageable. To get a closer look at the most recent food and beverage trends for the beginning of the year, IRI also released “Early View 2019.”
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